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Spare Backup Providing Online Storage for 'Aussie' ThinkSmart Customers

Cliff Boodoosingh on January 13, 2010
Spare Backup Provides Online Data Storage Services for ThinkSmart Customers in Australian Market

PALM DESERT, Calif., Jan. 12 /PRNewswire-FirstCall/ -- Spare Backup (OTC Bulletin Board: SPBU) today announced that it has entered into a Master Services Agreement with ThinkSmart (ASX: TSM), an international leader and innovator in the provision of point of sale financing, whose products successfully bridge the gap between a credit card and a bank loan delivering a fast, simple finance solution for customers at the retail point of sale.

Under the terms of the agreement, Spare Backup and ThinkSmart have jointly created a platform to provide Spare Backup's Online Data storage services to all new ThinkSmart customers in Australia.  ThinkSmart's products in Australia are distributed under the "RentSmart" brand and are available in more than 1,000 retail outlets around the country, including leading retailers Dick Smith, JB Hi-Fi, Officeworks and NextByte.

New customers signing up to the RentSmart product will be directed to a co-branded registration site that allows RentSmart customers to sign up for Spare Backup's Online Data Storage services.  RentSmart customers will be entitled to register for a 5 GB / 5 device storage account at no cost.  They will also have the option to subscribe to higher on-line storage packages starting at 10 GB with monthly or annual payment options. RentSmart will pay Spare Backup a confidential amount on each user who subscribes for the 5 gig plan and both parties have entered into a confidential revenue sharing agreement that will operate on a mutually beneficial basis. 

"We are pleased to add ThinkSmart to our growing list of worldwide distribution partners. This agreement is another example of our ability to attract proven high profile business partners and helps to further expand our international footprint. The terms of the agreement are forward thinking in that revenue is generated based upon user adoption without an upfront cost to the customer. We are excited about the structure of this partnership. There are no barriers to participation for the customer and the revenue sharing agreement makes it an undeniably positive arrangement for both ThinkSmart and Spare Backup," stated Cery Perle, CEO of Spare Backup.

ThinkSmart Executive Chairman and CEO, Ned Montarello said:  "This is an important new product development for the ThinkSmart Group in Australia and we've undertaken an extensive search for a partner who could meet our needs.  Spare Backup resonates well with our business as we are both international market leaders in our respective fields and the synergies to do good business are strong."

About Spare Backup, Inc.:

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California.

About ThinkSmart:  ThinkSmart is a leading international financial services company that is focused on the delivery of B2B finance products through the retail environment. The business currently operates with market leading retailers and financial institutions in the UK, Spain, Italy, France, Australia and New Zealand where it has built a reputation for processing high volumes of low value business finance transactions both quickly and efficiently.

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